Investing

Irrelevant old buffett calling end of cryptos

  • Last Updated:
  • Feb 26th, 2018 10:31 pm
Tags:
Jr. Member
Mar 1, 2011
148 posts
70 upvotes
Frank2029 wrote:
Feb 11th, 2018 6:37 pm
You keep asking this... why haven't you been done a Google search yet? As I don't trade Bitcoin options I don't have access to the dates but I'm sure at least a couple years out are available. Not sure which are available in Canada but on the us all major trading platforms support it and most of them allow Canadians on their platform. Bitcoin options are extremely expensive.

I can assure you buffet knows damn well they exist. He's not the only clown in his posse. He's got an army of investors... Is he saying not one of them knows about them? He invests in banks by the 10s of billions. OF COURSE he's going to downplay cryptos. Most "professional" analysts or investment firms invest in banks. Why wouldn't they pump banks like every other person does?

Some of you geezers need to lighten up and accept change is coming. It won't be Bitcoin but blockchain is the way of the future. Understand it cause it's coming.
Help me imagine a future with blockchain. I haven't googled enough to understand how it will change the future.

I do have a million dollar idea. Create a legitimate tether type crypto that is backed by real currency and audited regularly. Create a digital Canadian dollar or usd.
Deal Addict
Dec 23, 2010
1224 posts
591 upvotes
Moon
Bitcoin is a ponzi scheme that will come crashing on its head.
Jr. Member
Mar 1, 2011
148 posts
70 upvotes
Frank2029 wrote:
Feb 11th, 2018 6:44 pm
What the hell does this even mean????? Does looking at dog shit actually entice you to pick it up and toss it from one hand to the other????? The hell is wrong with you.....

Arnt you the fool who goes around these forums saying you are wealthier then most people here because of Bitcoin??? Could of sworn that was you.

Anyways the average person would pick up money from the sidewalk. Not dogshit.
I'm not wealthy and haven't meant made any money on bitcoin. That might make me a fool.

The analogy was speculating on bitcoin prices is like playing with dog shit on the sidewalk. You can avoid touching it yet still comment on how disgusting it is. Bitcoin being the dog shit. I've got no interest in speculating my own money on it.
Deal Addict
User avatar
Dec 14, 2010
4799 posts
4071 upvotes
FrancisBacon wrote:
Feb 11th, 2018 5:54 pm
There is no difference between investing and speculating. Every investment is speculative.
I respectfully disagree. If we start with the definition of "speculate" in the Merriam-Webster dictionary: "to think about something and make guesses about it; to form ideas or theories about something usually when there are many things not known about it; to invest money in ways that can produce a large profit but also involve a lot of risk." Or better yet, this definition that aligns well with a lot of misconception about investing: "to take to be true on the basis of insufficient evidence."

Investing is about evaluating the business behind a stock; is to make informed decisions on its earnings potential, which will reflect in the stock price in the long term, taking no consideration to what happens in the short term. Investing is best done when it is done from a long-term perspective and objective. Buying stocks with short-term expectations falls more into the category of speculating than it does investing. Stock prices are fickle and unpredictable in the short run. Business results are more reliable and more predictable. However, that doesn’t mean it is easy, but it is certainly more intelligent than attempting to forecast stock prices. Evaluating a company’s stock price based on its fundamental value can certainly help investors avoid making obvious mistakes. It is impossible to invest in common stocks and never make a mistake. However, it is quite possible to avoid clear mistakes based on egregiously inaccurate appraisals of a business’s true worth.

Furthermore, not every company carries the same risk. A company with little or no debt, with the highest credit rating, that reigns as the leader on its field does not carry the same risk of a growing company that has more debt, a lower credit rating where it competes with other, bigger companies.

“Don’t seek Mr. Market's advice.
Some investors – really speculators – mistakenly look to Mr. Market for investment guidance.
They observe him setting a lower price for a security and, unmindful of his irrationality, rush to sell their holdings, ignoring their own assessment of underlying value. Other times they see him raising prices and, trusting his lead, buy in at the higher figure as if he knew more than they know.
The reality is that Mr. Market knows nothing, being the product of the collective action of thousands of buyers and sellers who themselves are not always motivated by investment fundamentals.
Emotional investors and speculators inevitably lose money; investors who take advantage of Mr. Market's periodic irrationality, by contrast, have a good chance of enjoying long-term success.”
- Seth Klarman, "Margin of Safety, Risk-Averse Investing Strategies for the Thoughtful Investor"


Rod
Build a comprehensive portfolio based on Investing and Trading strategies. Check out these threads and join the discussion:

Investing strategy based on dividend growth

Trading strategy based on Graham principles.
Deal Fanatic
User avatar
Jun 11, 2001
7893 posts
385 upvotes
Haha, the best investor ever is a dumbass... LOL. Am i in the RFD comedy section?
...zzz...zzz...zzz...

www.heatware.com
Jr. Member
Mar 1, 2011
148 posts
70 upvotes
sleepyguy wrote:
Feb 11th, 2018 9:33 pm
Haha, the best investor ever is a dumbass... LOL. Am i in the RFD comedy section?
It's what these young men have been brainwashed to believe, along with other ridiculous ideas.

It's sickening.
Deal Guru
Aug 2, 2010
12547 posts
3080 upvotes
Here 'n There
I heard the same old tired arguments during the dotcom boom and look how that ended up.

History never repeats itself but it always rhymes.

You would do real good to start taking Investing 101 as you’ve proven you don’t know the first thing about investments, or speculating for that matter
Deal Guru
Aug 2, 2010
12547 posts
3080 upvotes
Here 'n There
I heard the same old tired arguments during the dotcom boom and look how that ended up.

History never repeats itself but it always rhymes.

Cryptofanpersons would do real well to start taking Investing 101.
Deal Addict
Oct 6, 2015
1302 posts
684 upvotes
officerjimlahey31 wrote:
Feb 11th, 2018 11:48 am
Op, read up on dunning kruger and relax on the koolaid.

Usa never bought oil from Venezuela with bolivar. That's why oil is priced in usd.

Mind blown that people are this stupid. Stupid.
Oil might be quoted in USD$, but can be bought with any currency that has value. Including Bitcoin.
Deal Addict
Oct 6, 2015
1302 posts
684 upvotes
Applesmack wrote:
Feb 11th, 2018 6:49 pm
Bitcoin is a ponzi scheme that will come crashing on its head.
Yes, but the same can be said of all fiat currencies.
Member
Oct 12, 2017
223 posts
135 upvotes
irrelevant old buffett is more relevant than starbucksguy
Jr. Member
Mar 1, 2011
148 posts
70 upvotes
burnt69 wrote:
Feb 11th, 2018 11:08 pm
Oil might be quoted in USD$, but can be bought with any currency that has value. Including Bitcoin.
Do you think that idea is closer to being plausible or ridiculous?
Jr. Member
Mar 1, 2011
148 posts
70 upvotes
Speculating = guessing
Investing = highly informed guessing

Ie) we have over 100 years of data to predict that the us stock market will be higher in 20 years than it is today.

We are speculating (or guessing) that because bitcoin has recovered to new all time highs after every crash that it will continue to do so.
Deal Addict
Aug 19, 2016
1744 posts
698 upvotes
Cryptocurrency will survive, but not in its current form.
Banks are investing into blackchain technology.

As for Warren Buffett, you can call him whatever you want. But you got to realize that bitcoin doesn't meet the criteria of a currency.

I will revisit this thread in 5 years and see if bitcoin is still around.
Deal Guru
Aug 2, 2010
12547 posts
3080 upvotes
Here 'n There
And blockchain technology can be applied to countless businesses across a wide spectrum, not just banks. I don't think cryptocurrency will survive either in its present form but may in a way that is backed by fiat. In other words, all it might become is a means to move fiat around in frictionless form.

Otherwise crypto has no bedrock except for the greater fool theory. Someone might pay you more. Any strategy based on hope only is destined to fail. Crypto's wild gyrations is proof of it's fragility as a currency. Billions have already been lost investing in it and this is just the beginning. However, people like to gamble to it feeds that addiction.

Top